Money Matters Financial Services approves QIP

Money Matters Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on October 13, 2010, has approved the Preliminary Placement Document dated October 13, 2010 for its proposed Qualified Institutions Placement (QIP) of Rs. 10/- each for cash at a price of (*) per Equity Share aggregating to Rs [*] million to be determined by the Book Building Process under 'Chapter VIII- Qualified Institutions Placement' of the SEBI (Issue of Capital and Disclosure Requirements) ('ICDR') Regulations, 2009 ('Offering') and has also decided to open the Offering.

The stock closed the day at Rs.640.25, up by Rs.10 or 1.59%. The stock hit an intraday high of Rs.656 and low of Rs.622.05.

The total traded quantity was 2.59 lakhs compared to 2 week average of 2.10 lakhs.

Source : Equity Bulls

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